India’s Pharma Market Grows 7.4% in April Driven by Rise in Chronic Therapy Demand

Indian pharma market (IPM) experienced a year-on-year (YoY) growth of 7.4 percent in April, with a pickup in demand for chronic therapy, according to the latest report.

Month-wise analysis by Motilal Oswal Financial Services placed IPM growth at 9 percent in April 2024, following 9.3 percent in March 2025.

The growth was propelled by good performance from cardiac, central nervous system (CNS), and respiratory therapy segments.

Interestingly, the respiratory therapies experienced a bounce back in YoY growth in April. The acute therapies rose by 6 percent in April, the same as in the last April and slightly lower than the 8 percent that was witnessed in March 2025, primarily because of seasonal factors.

The expansion of the IPM was also supported by volume growth (1.3 percent), new products (2.3 percent), and price increases (4.3 percent). The report highlighted that the YoY growth on a MAT basis was driven by therapies such as cardiac (11.3 percent), gastroenterology (9.4 percent), antineoplastics (anticancer or chemotherapy) at 12.6 percent, and urology (13.1 percent). Overall, the industry recorded a 7.9 percent YoY growth in the MAT measure.

Chronic treatments grew 9 percent YoY in April, whereas acute treatments grew 6 percent. The acute segment accounted for 61 percent of the overall IPM share for MAT April and grew 7.9 percent YoY.

The report further mentioned that local pharma businesses outperformed their multinational counterparts in April. Indian pharma businesses hold a dominant 83 percent market share of the IPM, with the rest of the share being contributed by multinational businesses (MNCs). Indian businesses along with MNCs logged 7.4 percent YoY growth in March.

Also, a recent India Ratings and Research (Ind-Ra) report reinforced this positive trend, with a hint of 7.8 percent YoY revenue growth for IPM in April.

Ind-Ra's findings pinpointed the growth as due to price hikes by companies, along with a 1.3 percent YoY volume growth. Nearly all major chronic therapy segments recorded value and volume growth.